IDEA::BANK – FROM CHALLENGE TO LEGEND WITH FINTECH

IDEA::BANK – FROM CHALLENGE TO LEGEND WITH FINTECH

Having bought the former Romanian International Bank, including its branch network and legacy systems, Idea::Bank needs change from the ground up into a digital financial services organization to adapt with the fast-growing. With their mission to become the go-to retail and SME digital bank in the market, they needed technology that was flexible enough to eliminate paper-based processes, speed up credit risk analysis and security checks and deliver a smooth customer experience both in branch and online.
They wanted to implement a digital solution in record time, within a tight development budget and building on legacy systems.

“Digital-on-top” – The accelerating digital solutions

Their partnership with FintechOS generated the next-level customer engagement with 2 core technologies: Evolutive Data and Automation Blocks with its ease of use so that it was quickly rolled out right across the business.
FintechOS used Evolutive Data Core to bring together data from siloed internal system and external feeds, an API-driven aggregation layer, giving Idea::Bank access to accurate customers and services information.
To restructure the customer journeys, they pre-built Automation Blocks enabling the bank to take a modular approach for several business lines, across online and in-branch channels.
The processes that once tooks days can now be achieved in minutes. New customer onboarding and loan applications – including KYC checks supported by OCR and face recognition, digital document generation, and electronic signatures – are now automated and can be handled remotely without the need for branch visits.

Awards for banking innovation in 2020

By integrating all data and outstanding tasks in unified dashboards, customer relationship & lead management workflows and also financial collection process, all things are sped up and simple. It is leading to a 50 percent increase in employee productivity gains. Using OCR to enable digital document capture and video face recognition in place of physical presence, the whole process is made accessible via any device. Idea::Bank will apply it for online creation of deposit accounts and end-to-end loan origination came next. Thanks to technology advances, Idea::Bank became Best Brand from Business Arena in 2020 and Best Banking Product from Finmedia in 2019.

If you need a solution for your finance service, Twendee is here to do everything we can for your breakthrough. Contact us for more!
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Reference: https://fintechos.com/case-study/idea-bank-a-digital-bank-built-from-the-ground-up/

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